IMPLOSION ALERT: XTL Biopharma (XTLB)

Posted in General 
November 18th, 2008

XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB) failed to meet primary and secondary endpoints in its Phase IIB study to treat neuropathic pain in diabetes patients.  This looks like the newest biotech zombie.  In only about 15 minutes of normal trading and with the pre-market trading volume, there has been over 12 million shares trading hands.  This one is perhaps the ugliest of all biotech implosions.  Shares are down 93% at $0.14, yep “NINETY-THREE PERCENT”……

Its prior 52-week trading range was $1.58 to $4.96.

Jon C. Ogg
November 18, 2008

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